I will be using Photoshop CS2 for this tutorial.
TO USE THIS AS AN ACTION, CLICK "DOWNLOAD".
1. Go to image > mode > greyscale, to convert your image to black and white. now go to image > mode > RGB colour, as you'll need to add colours later.
(Don't just desaturate it, it reduces image quality!)
2. Duplicate your background layer and set it to screen at 40%.
3. Go to layer > new fill layer > solid colour, type in #2F466C and click OK. Set that layer to soft light at 100% opcaity.
4. Do the same as above, but type #360D0D in instead. Set that layer to lighten at 100% opacity.
5. Duplicate your background layer again, and drag it to the top. Set it to screen at 50%.
6. Go to layer > new adjustment layer > selective colour, select "relative" and fill this in:
Whites: -14, -8, +33, -6
Blacks: -25, -13, +5, +8
Set this layer to 50% opacity.
7. Go to layer > new fill layer > solid colour, type in #F4DEAA and click OK. Set that layer to multiply at 47% opcaity.
8. Go to layer > new adjustment layer > hue/saturation, select "red" from the drop-down list and set saturation to -30.
9. Go to layer > new adjustment layer > brightness/contrast and fill this in:
Now merge the layers and you're done!
Photo: Conor Oberst, Bright Eyes
Found on the internet (last.fm). All credits go to the photographer. I am not claiming this as my own, I am simply using it for a reference.